Concord New Energy Group Full Year 2023 Earnings: Misses Expectations

Concord New Energy Group (HKG:182) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥2.59b (up 7.8% from FY 2022).
• Net income: CN¥869.8m (up 3.4% from FY 2022).
• Profit margin: 34% (down from 35% in FY 2022).
• EPS: CN¥0.10 (up from CN¥0.096 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Concord New Energy Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 6.4%.

Looking ahead, revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in Hong Kong.

Performance of the Hong Kong Renewable Energy industry.

The company's shares are down 1.6% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Concord New Energy Group (including 1 which is significant).

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